Calculation of S&P fee should I Pay

tksiaokia — Thu, 23 Apr 2015 21:11:40 +0800

I am first house buyer.
I am curious the amount I pay for loan agreement.
1. I calculate the Legal Fee for my property based on the table
Example :Value:RM 350k
Legal Fee: 2.9k
2. I tot this is the amount i should pay to my lawyer, but the lawyer send me the statement and the amount is around 7k

3. There is around 4.1k for different fee such as:
Legal Fee
---------------
-Facility Agreement Fee RM 2.9k(The fee based on table)
-Solicitor's fee for charge RM 268
-Enter and withdraw private caveat RM 350
-xxxxxx RM xxxx
-------------
RM 3xxx

Disbursements
-----------------
-6% GST RM 2xx ( I accepted it)
-Stamping fee for Facility Agreement RM 1.6K
-xxxx
-xxxx
-xxxx
-transport fee RM 250
-printing fee RM 50
-Registration to enter private caveat RM 450
-xxxxx
-xxxx
---------
RM 3xxx

4.At the end , total is around 7k

I no idea is that the correct amount should i pay or only the legal fee (2.9k) should I pay?
Just want to know wether am I get cheated or not.

Please correct me if i am wrong.

Thanks

Purchasing First House

tksiaokia — Fri, 30 Jan 2015 13:14:05 +0800

Hi, I writing this post to record and share you guy my process and experience on purchasing first house, I hope u guy can give me some advice if you feel that i have risk on any flow or had been cheat.

(Looking property)
22-Jan-2015
-------------
I found a Property from Iproperty.com, I have a view on that property, It look nice, well maintain and some renovated in master room. 970sqf , 3D 2B and the price is 355k.
Currently owner staying inside, with 1 child and his mom, both owner are teacher.
They are going to move out before chinese new year, they purchased other unit and well renovated.

(Step 1, Booking)
29-Jan-2015
--------------
Tonight, I have go to owner house and sign the booking form, i decide to combine name with my gf to on this house so that we can afford to buy it.
The booking form had concern:
1. 3% booking fee, which is RM10,650
2. 21 day duration for sign S&P
3. 7% to be pay when sign S&P
4. 4+ 1 package.

I had not cheque book, so i decide to buy Bank Draft and it will issue to Agent's Company.

Agent are helping me to apply house loan, he ask me to prepare sum document such as:
1. 6 month pay slip
2. 6 month bank statement
3. income tax slip
4. IC
5. EPF statement

Other than that, This unit are under master title, but owner ady apply the title transfer, he keeping ask me to user his lawyer because he say that is faster and can direct transfer, so it save a lot time. But I hear a lot advice from other relative and friend that better find own lawyer because they can protect u better.
At the end of session, agent give a copy of booking form to me and owner and he keep a copy too.

(Step 1-1, 3% fee)
30-Jan-2015
---------------
This morning, agent call me and want to collect bank draft from me. He ask me whether want to transfer money to his company account or bank draft, i prefer bank draft because i think way 1 is quite risky.
I am going to buy bank draft on my lunch time hour around 1pm and agent will collect from around 2pm.
2PM
Unfortunately, I din't bring bank book to bank so that i can't buy the bank draft.
I call to agent that i can't provide bank draft by today so he ask me online transfer and tell me that their company will issue receipt to me once their receive the amount.
He ask me dun afraid, won't cheat on me tell me that me and owner had sign the booking form, suppose owner should sign the form when I ady issue the 3% cheque.
So now,I plan to transfer to agent's company account by tonight.
8PM
I try online transfer to agent's company account with amount of RM 10650 on this moment.
When I click OK, the system pop out error that maximum amount per day is RM10k.
So I just transfer 10k and will be transfer 650 next day as suggested by agent.

To Be Continue...

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Calculation of S&P fee should I Pay

Purchasing First House